New loan charge letters from HMRC

[webberg]

We are advised that HMRC is shortly to begin sending more "reminders" regarding the loan charge.

We have not seen the wording but can imagine it's along the lines of:

If you have not settled, the loan charge is due (debatable)

Disclosure is required by 1st October

Your employer may be your Own Co

Dire consequences await any who disagree.

Unfortunately we will also see a number of firms who are dealing with older schemes use this as further reason to push their own agendas.

Forewarned is forearmed.

[Nissan07]

Received a letter today "Disguised remuneration loan charge: telling HMRC about your outstanding loans and paying the loan charge"

Essentially it appears to be reminding us of key dates and the 2017 settlement terms if you provided your information by 5th April and how to report outstanding loans and pay the loan charge if you have not.

Also mentions that if you haven't heard from them or are unsure of when you need to respond by contact them.

I find this one just a tad annoying after waiting 3 months with no communication and now I need to contact them!

[swing84]

I find this one just a tad annoying after waiting 3 months with no communication and now I need to contact them!

I received the same letter which seems to be a catch-all missive sent to all of us. I didn't have much confidence when it began "Dear Sir or Madam"!

I agreed in writing to settle in April and have heard nothing since. The letter implored me to call up to hurry the process along, so I did. The advice from the man on the phone was that there was "a backlog" and so there's no action required at the present time.

As to why I was sent the letter answer came there none!

[NeedTheSunshine]

I received the same letter which seems to be a catch-all missive sent to all of us. I didn't have much confidence when it began "Dear Sir or Madam"!

I agreed in writing to settle in April and have heard nothing since. The letter implored me to call up to hurry the process along, so I did. The advice from the man on the phone was that there was "a backlog" and so there's no action required at the present time.

As to why I was sent the letter answer came there none!

I've received my brown envelope too. It's just another pressure tactic to push people into settling before the August deadline. I think they just send them to everyone on the "user of loan schemes" list regardless of where they are in the settlement process. Didn't even bother to do the personalisation of the Sir/Madam bit this time.

I do appreciate the heads up though, so thank you webberg.

[CDJ]

We are advised that HMRC is shortly to begin sending more "reminders" regarding the loan charge.

Also note, that these are being received by people who have settled. When called and challenged, HMRC have admitted its a fishing/awareness exercise..

Worth being mentally prepared to receive this and understanding that it is not an indication of perceived tax liability - especially for those who have already settled or entered the settlement process

[lowpaidworker]

I've received my brown envelope too. It's just another pressure tactic to push people into settling before the August deadline. I think they just send them to everyone on the "user of loan schemes" list regardless of where they are in the settlement process. Didn't even bother to do the personalisation of the Sir/Madam bit this time.

I do appreciate the heads up though, so thank you webberg.

Yep got my letter. Said I needed to declare all the loans by 30 Sep and agree settlement by 17th Nov for it be valid.

[dammit chloe]

Yep got my letter. Said I needed to declare all the loans by 30 Sep and agree settlement by 17th Nov for it be valid.

Does your letter really say agree settlement by the 17th November or does it refer to guidelines published on the 17th November?

[NeedTheSunshine]

Does your letter really say agree settlement by the 17th November or does it refer to guidelines published on the 17th November?

I assume we all got the same mass mail shot which said if you'd provided your info by 5th April HMRC would still like "to help us settle rather than pay the loan charge". How kind of them. If anything isn't clear please do call them. Talk about phishing and trying to pressure the resisters. And panicking those who do want to settle but haven't been able to because of, oh, the backlog at HMRC....

[lowpaidworker]

Does your letter really say agree settlement by the 17th November or does it refer to guidelines published on the 17th November?

Good spot. It actually says if I do as they say I will be able to settle under the 7 November 2017 settlement terms. My mistake.

[lowpaidworker]

sorry just realised public forum so removed most of my post.